FREJP Federal Home Loan Mortgage Corporation (QB)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM ABS-15G

ASSET-BACKED SECURITIZER

REPORT PURSUANT TO SECTION 15G

OF THE SECURITIES EXCHANGE ACT OF 1934

Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:

[_] Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period _________ to __________.

Date of Report (Date of earliest event reported): ___________

Commission File Number of securitizer: ___________

Central Index Key Number of securitizer: ___________

(Name and telephone number, including area code, of the person to contact in connection with this filing)

Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(1): [_]

Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i): [_]

Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii): [_]

[X] Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2).

Central Index Key Number of depositor: 0001026214

Federal Home Loan Mortgage Corporation (as issuer of the Multifamily M Certificates, Series M-071)

(Exact name of issuing entity as specified in its charter)

Central Index Key Number of issuing entity (if applicable): 0001026214

Central Index Key Number of underwriter (if applicable): ___________

Jason Griest (703) 903-2000

(Name and telephone number, including area code, of the person to contact in connection with this filing)

INFORMATION TO BE INCLUDED IN THE REPORT

PART I: REPRESENTATION AND WARRANTY INFORMATION

N/A

PART II: FINDINGS AND CONCLUSIONS OF THIRD-PARTY DUE DILIGENCE REPORTS

Item 2.01 Findings and Conclusions of a Third Party Due Diligence Report Obtained by the Issuer

See Report of Independent Accountants on Applying Agreed-Upon Procedures dated July 25, 2024, of Ernst & Young LLP, attached as Exhibit 99.1 to this report.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Exhibit 99.1

		Ernst & Young LLP One Manhattan West New York, NY 10001		Tel: +1 212 773 3000 Fax: +1 212 773 6350 ey.com

Report of Independent Accountants on Applying Agreed-Upon Procedures

25 July 2024

Federal Home Loan Mortgage Corporation

8200 Jones Branch Drive

McLean, Virginia 22102

Deposited Assets Agreed-Upon Procedures

We have performed the procedures enumerated in Attachment A, which were agreed to and acknowledged as appropriate by Federal Home Loan Mortgage Corporation (“Freddie Mac” or “Engaging Party”), CRBT TEBS Sponsor II LLC (the “Sponsor”) and Stifel, Nicolaus & Company, Incorporated (“Stifel,” together with Freddie Mac and the Sponsor, the “Specified Parties”), for the intended purpose of assisting the Specified Parties in evaluating the accuracy of certain information with respect to DTC registered bonds and/or custodial receipts representing beneficial interests in tax-exempt multifamily bonds and/or notes issued by various state and local government entities (the “Deposited Assets”) relating to the Certificates. This report may not be suitable for any other purpose. The procedures performed may not address all of the items of interest to a user of the report and may not meet the needs of all users of the report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The appropriateness of these procedures is solely the responsibility of the Specified Parties identified in this report. No other party acknowledged the appropriateness of the procedures. Consequently, we make no representation regarding the appropriateness of the procedures described in Attachment A, either for the purpose for which this report has been requested or for any other purpose.

The procedures performed and our associated findings are included in Attachment A.

For the purpose of the procedures described in this report, Freddie Mac or the Sponsor, on behalf of Freddie Mac, provided us with, or instructed us to obtain, as applicable:

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For the purpose of the procedures described in this report, the 22 Deposited Assets on the Data File are referred to as Deposited Asset Numbers 1 through 22.

For the purpose of the procedures described in this report, certain information contained on the Data File is the “Subject Matter.” We performed certain procedures on earlier versions of the Subject Matter and communicated any differences prior to being provided the final Subject Matter which was subjected to the procedures described below.

The procedures included in Attachment A were limited to comparing, recalculating or observing certain information that is further described in Attachment A. Freddie Mac is responsible for the Subject Matter, Data File, Deposited Asset Characteristics, Sources and the determination of the instructions, assumptions and methodologies that are described herein. We were not requested to perform, and we have not performed, any procedures other than those procedures listed in Attachment A. We have not verified, and we make no representation as to, the accuracy, completeness or reasonableness of the Sources or any other information provided to us, or that we were instructed to obtain, as applicable, by Freddie Mac or the Sponsor, on behalf of Freddie Mac, upon which we relied in forming our findings. Accordingly, we make no representation and express no opinion or conclusion as to (a) the existence of the Deposited Assets, (b) questions of legal or tax interpretation or (c) the appropriateness, accuracy, completeness or reasonableness of any instructions, assumptions and methodologies provided to us by Freddie Mac or the Sponsor, on behalf of Freddie Mac, that are described in this report. We undertake no responsibility to update this report for events and circumstances occurring after the date hereof.

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This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants (the “AICPA”). An agreed-upon procedures engagement involves the practitioner performing specific procedures that the Specified Parties has agreed to and acknowledged to be appropriate for the purpose of the engagement and reporting on findings based on the procedures performed. We were not engaged to, and did not, conduct an examination to express an opinion or a review to express a conclusion in accordance with attestation standards established by the AICPA on any of the items referred to herein. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

The agreed-upon procedures described in this report were not performed for the purpose of:

We are required to be independent of Freddie Mac and to meet our other ethical responsibilities, as applicable for agreed-upon procedures engagements set forth in the Preface: Applicable to All Members and Part 1 – Members in Public Practice of the Code of Professional Conduct established by the AICPA. Independence requirements for agreed upon procedure engagements are less restrictive than independence requirements for audit and other attestation services.

This report is intended solely for the information and use of the Specified Parties and is not intended to be and should not be used by anyone other than the Specified Parties. It is not intended to be and should not be used by any other person or entity, including investors and rating agencies, who are not identified in the report as Specified Parties but who may have access to this report as required by law or regulation.

/s/ Ernst & Young LLP

26 July 2024

		Attachment A

Procedures performed and our associated findings

Exhibit 1 to Attachment A

Page 1 of 8

Deposited Asset Characteristics and Source(s)

Exhibit 1 to Attachment A

Page 2 of 8

Exhibit 1 to Attachment A

Page 3 of 8

Exhibit 1 to Attachment A

Page 4 of 8

Notes:

For the purpose of this procedure, the Sponsor, on behalf of Freddie Mac, instructed us to round the result obtained above to two decimal places (0.00%).

For the purpose of this procedure, the Sponsor, on behalf of Freddie Mac, instructed us to round both the Cut-Off Date LTV(Comforted), as shown on the Data File, and the result obtained above to two decimal places (0.00%).

Exhibit 1 to Attachment A

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Notes: (continued)

all as shown on the Data File, assuming all scheduled payments of principal and/or interest on the Deposited Assets are made timely and that there are no prepayments or other unscheduled collections, subject to the additional instruction(s) described in the succeeding paragraph(s) of this note.

For the purpose of this procedure, the Sponsor, on behalf of Freddie Mac, instructed us to round both the Cut-Off Date Loan/Bond Amount, as shown on the Data File, and the result obtained above to two decimal places (0.00).

For the purpose of comparing the amortization term (original) Deposited Asset Characteristic for Deposited Asset Number 4, the Sponsor, on behalf of Freddie Mac, instructed us to recalculate the amortization term (original) Deposited Asset Characteristic using the rate, total payment and principal balance of such Deposited Asset, all as shown on the Trust Indenture.

Exhibit 1 to Attachment A

Page 6 of 8

Notes: (continued)

all as shown on the Data File.

For the purpose of comparing the amortization term (remaining) Deposited Asset Characteristic for Deposited Asset Number 1, the Sponsor, on behalf of Freddie Mac, instructed us to recalculate the amortization term (remaining) as the minimum of the:

all as shown on the Data File.

For the purpose of comparing the initial IO period Deposited Asset Characteristic for each Deposited Asset with an Initial IO Period (Comforted) value of “N/A,” as shown on the Data File, the Sponsor, on behalf of Freddie Mac, instructed us to use “N/A”.

Exhibit 1 to Attachment A

Page 7 of 8

Notes: (continued)

For the purpose of comparing the prepayment provisions Deposited Asset Characteristic for each Deposited Asset, the Sponsor, on behalf of Freddie Mac, instructed us to recalculate the 3% prepayment premium period (“3%”), if applicable, by adding one to the result of the difference in months between the begin date of the 3% prepayment premium period and the end date of the 3% prepayment premium period, both as shown on the Trust Indenture.

For the purpose of comparing the prepayment provisions Deposited Asset Characteristic for each Deposited Asset, the Sponsor, on behalf of Freddie Mac, instructed us to recalculate the 2% prepayment premium period (“2%”), if applicable, by adding one to the result of the difference in months between the begin date of the 2% prepayment premium period and the end date of the 2% prepayment premium period, both as shown on the Trust Indenture.

For the purpose of comparing the prepayment provisions Deposited Asset Characteristic for each Deposited Asset, the Sponsor, on behalf of Freddie Mac, instructed us to recalculate the 1% prepayment premium period (“1%”), if applicable, by calculating the difference in months between the begin date of the 1% prepayment premium period and the end date of the 1% prepayment premium period, both as shown on the Trust Indenture.

For the purpose of comparing the prepayment provisions Deposited Asset Characteristic for each Deposited Asset, the Sponsor, on behalf of Freddie Mac, instructed us to recalculate the open period (“O”) by adding one to the result of the difference in months between the First Optional Redemption Date at Par (with no Penalty) (Comforted) and the Mandatory Tender Date (Comforted), both as shown on the Data File.

For the purpose of this procedure, the Sponsor, on behalf of Freddie Mac, instructed us to round both the Maturity LTV, as shown on the Data File, and the result obtained above to two decimal places (0.00%).

Exhibit 1 to Attachment A

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Notes: (continued)

For the purpose of this procedure, the Sponsor, on behalf of Freddie Mac, instructed us to round both the UW NCF DSCR, as shown on the Data File, and the result obtained above to three decimal places (0.000).

For the purpose of comparing the UW NCF DSCR (IO) Deposited Asset Characteristic for each Deposited Asset with an UW NCF DSCR (IO)(Comforted) value of “N/A,” as shown on the Data File, the Sponsor, on behalf of Freddie Mac, instructed us to use “N/A”.

For the purpose of this procedure, the Sponsor, on behalf of Freddie Mac, instructed us to round both the UW NCF DSCR (IO), as shown on the Data File, and the result obtained above to three decimal places (0.000).

We performed no procedures to determine the appropriateness, accuracy, completeness or reasonableness of the instructions provided by the Sponsor, on behalf of Freddie Mac, that are described in the notes above.